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Oklahoma
Department
of
Commerce
www.okcommerce.gov/data
Policy,
Research
&
Economic
Analysis
Oklahoma’s
Economic
Snapshot
August
2012
Employment
• OK’s
June
employment
grew
modestly,
regaining
the
500
jobs
that
were
lost
in
May,
which
resulted
in
a
net
gain
of
40,800
over
the
past
12
months.
• OK’s
2.6%
growth
rate
ranks
#3
among
states.
• OK’s
preliminary
unemployment
rate
for
June
dropped
yet
another
0.1
point
to
4.7%,
ranking
the
state
4th
lowest
tied
with
VT;
only
ND,
NE,
and
SD
were
lower.
OK
has
the
lowest
unemployment
rate
of
any
state
with
a
population
over
2
million.
• In
manufacturing
payroll,
OK
has
remained
steady
over
the
past
several
months.
While
the
state’s
growth
rate
in
the
industry
has
slipped
to
5.0%
over
the
year,
it
is
still
much
stronger
than
the
national
manufacturing
growth
rate
of
1.9%.
Location
Quotient
• A
location
quotient
(LQ)
is
a
way
to
quantify
how
concentrated
an
industry
is
in
a
region
when
compared
to
a
larger
geographic
area,
such
as
a
state
to
the
nation.
LQs
can
be
used
to
distinguish
which
industries
make
the
regional
economy
unique,
identify
the
most
export-­‐oriented
industries,
and
provide
essential
data
for
determining
clusters.
• OK’s
highest-­‐ranking
LQ
industries
are
predominately
energy,
transportation
and
agriculture
oriented.
As
a
note
for
the
graph
below,
a
LQ
equaling
1.0
signals
an
equal
industry
concentration
to
the
US
economy
and
measures
of
2.0
or
greater
are
considered
very
strong.

Oklahoma
Department
of
Commerce
www.okcommerce.gov/data
Policy,
Research
&
Economic
Analysis
Oklahoma’s
Economic
Snapshot
August
2012
Employment
• OK’s
June
employment
grew
modestly,
regaining
the
500
jobs
that
were
lost
in
May,
which
resulted
in
a
net
gain
of
40,800
over
the
past
12
months.
• OK’s
2.6%
growth
rate
ranks
#3
among
states.
• OK’s
preliminary
unemployment
rate
for
June
dropped
yet
another
0.1
point
to
4.7%,
ranking
the
state
4th
lowest
tied
with
VT;
only
ND,
NE,
and
SD
were
lower.
OK
has
the
lowest
unemployment
rate
of
any
state
with
a
population
over
2
million.
• In
manufacturing
payroll,
OK
has
remained
steady
over
the
past
several
months.
While
the
state’s
growth
rate
in
the
industry
has
slipped
to
5.0%
over
the
year,
it
is
still
much
stronger
than
the
national
manufacturing
growth
rate
of
1.9%.
Location
Quotient
• A
location
quotient
(LQ)
is
a
way
to
quantify
how
concentrated
an
industry
is
in
a
region
when
compared
to
a
larger
geographic
area,
such
as
a
state
to
the
nation.
LQs
can
be
used
to
distinguish
which
industries
make
the
regional
economy
unique,
identify
the
most
export-­‐oriented
industries,
and
provide
essential
data
for
determining
clusters.
• OK’s
highest-­‐ranking
LQ
industries
are
predominately
energy,
transportation
and
agriculture
oriented.
As
a
note
for
the
graph
below,
a
LQ
equaling
1.0
signals
an
equal
industry
concentration
to
the
US
economy
and
measures
of
2.0
or
greater
are
considered
very
strong.